Of the 30,162 insolvencies, 12,539 were bankruptcies, 10,835 were IVA’s/Individual Voluntary Arrangements, and 6,788 were DRO/Debt Relief Orders.
All of the people affected within those figures will now find it very difficult to open a bank account with a regular High Street bank because of the credit check that the bank carries out when an applicant applies for an account, even if it is just a basic bank account. If the applicant is currently bankrupt then the bank is very unlikely to offer the applicant any type of bank account at all.
Where CardOneBanking is different is that it does not require the applicant to pass any form of credit check. As long as the applicant is a permanent UK resident and is 18 years of age or older then the bank account is guaranteed to be opened. It is for this reason that people who are currently bankrupt are likely to welcome these types of bank accounts.
They also provides the account holder with a MasterCard debit card, that is linked to their bank account, which can be used for purchases online as well as in stores. This is unheard of within the UK banking industry as the majority of UK High Street banks only offer a basic cash card with accounts for sub-prime credit customers
CardOne banking also operate an ‘online application’
To apply please go to - Basic Bank Account (http://www.cardonebanking.com)